Reference no: EM133104711
Question - These items are taken from the financial statements of Blossom Company for 2022.
Retained earnings (beginning of year) $33,570
Utilities expense 2,110
Equipment 64,700
Accounts payable 18,300
Cash 13,640
Salaries and wages payable 6,780
Common stock 23,200
Dividends 12,000
Supplies 3,800
Debt investment (long-term) 5,300
Trademarks 1,800
Service revenue 72,100
Prepaid insurance 7,280
Maintenance and repairs expense 1,690
Depreciation expense 3,100
Accounts receivable 15,810
Insurance expense 2,700
Salaries and wages expense 41,160
Accumulated depreciation-equipment 21,140
Required -
1. Prepare an income statement for the year ended December 31, 2022.
2. Prepare a retained earnings statement for the year ended December 31, 2022.
3. Prepare a classified balance sheet as of December 31, 2022.
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